In the first quarter of the current year, in China’s Hebei Province the average prices of common round steel bar, rebar, angles and wire rod were at RMB 2,244/mt ($345.2/mt), RMB 2,149/mt ($330.6/mt), RMB 2,176/mt ($334.8/mt) and RMB 2,163/mt ($332.8/mt), indicating respective increases of 4.1 percent, 5.6 percent, 2.7 percent and 5.4 percent compared to the fourth quarter of 2015, as announced by the Price Monitoring Center of Hebei Provincial Price Bureau.
Finished steel inventory levels in Hebei Province have been at relatively low levels since the Chinese New Year holiday. In the traditional peak season in March and April, demand for finished steel has improved, boosting both sentiment and finished steel prices in Hebei Province. However, following previous sharp rises, it is thought that finished steel prices in Hebei Province will likely start to move sideways.